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Analysts are increasingly focused on rising office property vacancy rates, driven by remote-work trends and higher costs of living. They are worried that cash-strapped landlords could default on loans and cause losses in banks' CRE portfolios.
March 14
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René Jones explained to shareholders how breakdowns occurred following the bank's acquisition of People's United Financial. An analyst called the remarks a "big mea culpa."
March 9
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About 40% of smaller firms applied for private-sector financing last year, which was up from 25% in 2021, according to a survey by the Federal Reserve banks. The results suggest a return to pre-pandemic credit needs, but borrowers now have different plans for the use of financing.
March 8
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The New York megabank unveiled the most complete accounting to date of its carbon footprint, and pledged to further reduce emissions from various high-emitting industries. Climate activists offered a mix of praise and concern.
March 5
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The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.
March 1
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The rise of e-commerce during the pandemic has fueled demand for warehouse space as companies look to move their products closer to their customers. While a slight slowdown is now under way, bankers still see plenty of business ahead.
February 24
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Octaura, an electronic portal backed by seven global banks, completed its first syndicated loan trades earlier this month.
February 21
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The North Carolina bank's new financing program will allow electric car buyers to include the cost of an at-home charging station in their auto loan.
February 8
